Risk analysis in practice
Case studies.
In our case studies, we show step by step how typical risk questions can be analyzed with our tools, from cyber risk to risk aggregation to selection decisions.
Each case study is a short video with a fully worked model. Many of the model templates are included directly in Risk Kit, so you can follow the examples yourself.
Enterprise Risk Management
Project risk analysis and more with Risk Kit 8
Using the example of simulating a project's plan deviations, we show new features in Risk Kit 8.
Cyber risks
Attacks, errors, and risk clusters
Companies are exposed to a large number of cyber risks, triggered by external attacks as well as internal operational problems.
The video shows how cyber risks can be broken down into their influencing factors, how the factors are presented, and how the risks can be assessed accordingly. The large number of risks is condensed into clusters so they can be reported and processed further in other areas of enterprise risk management.
The model template is included in Risk Kit (from version 7.17).
Enterprise Risk Management
Risk aggregation for PS 340 and StaRUG
Meet the requirements for risk assessment, risk aggregation, and reporting with Risk Kit.
The model template is included in Risk Kit.
Personnel risks in numbers
Pandemics, superspreader events, and operational outages
Flu waves and regional epidemics of infectious diseases, up to global pandemics, have become one of the most important personnel risks.
The video works through the assessment of this risk step by step, uses a Monte Carlo simulation to determine the probability and duration of operational outages, and shows how effective packages of measures against epidemics can be put together.
The model template is included in Risk Kit.
Look before you leap
Making selection decisions
Not everything that is done often is also promising. And it helps to know your goal, because every goal has its own recipe for success.
The simulation lets us test strategies in advance. This approach can also be used for mergers and acquisitions, a job search, buying a house, acquiring art, and much more.
The model template is included in Risk Kit.
Polycrisis or organizational tunnel vision?
Exceeding a 3-point distribution is not a black swan
Three-point distributions such as the triangular, PERT, or multinomial distribution are easy to explain and therefore popular, but their effects are always limited. As a result, risk management can become blind to the true scale of risks in severe crises.
In response to this issue, the video shows how risks that are unbounded on the upside can be modeled just as easily as with the old three-point distributions.
Achilles' heel of enterprise risk management
Better expert judgments
Experts need simple and flexible access to distributions.
The video shows how you can reliably estimate risks with the Enterprise Risk Explorer and Risk Kit.
How do I build a model? Part 1
The class trip
We show how Monte Carlo simulation can answer questions that intuition and mental math cannot solve directly, and how measures can be formulated and prioritized to improve the outcome.
The model template is included in Risk Kit.
How do I build a model? Part 2
The rescue mission
We show how a simulation can be built and evaluated in several stages to assess and design a service level agreement.
The model template is included in Risk Kit.
How do I build a model? Part 3
Grassroots insurance
We show the effect that diversification of risks has, and how it lets you manage many risks with a single measure and even influence the risk distribution massively at no cost.
The model template is included in Risk Kit.